Analysis: BlackRock IBIT daily trading volume reaches six-month high, FOMO has been confirmed

Odaily News Bloomberg ETF analyst Eric Balchunas cited data in an October 29 X post showing that BlackRock IBIT's daily inflows reached $599.8 million, saying "FOMO has been confirmed. Yesterday's IBIT trading volume reached $3.35 billion, the highest level in more than six months. According to CoinGlass data, the total inflows of 11 US spot Bitcoin ETFs reached $827 million yesterday. Balchunas said: "If this is FOMO frenzy, we will see it reflected in ETF fund flows in the next few nights. If not, it means it is due to HF (high-frequency) arbitrage trading or similar activities." Balchunas added: "IBIT is not the only ETF with increased trading volume. All major Bitcoin ETFs have seen an increase in trading volume in the past two days. Alex Thorn, head of research at Galaxy Digital, expressed a similar view, noting that October 29 was the third-highest day for Bitcoin ETF trading since April 1, 2024. On October 29, the total trading volume of US spot Bitcoin ETFs was US$4.64 billion throughout the trading day, with IBIT accounting for about 38%, ranking first. Grayscale GBTC was second, with a daily trading volume of US$390.32 million. It should be noted that increased trading volume indicates strong ETF liquidity, but does not reflect new capital inflows. (Cointelegraph)